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The Chase Sapphire Reserve Card is undergoing some significant changes starting tomorrow most notably a increase in annual fee from $450 to $550. The changes to this incredibly popular credit card (arguably THE most popular credit card) have the points and miles community in a mild uproar with various opinions about which direction to go.
With the few hours you have left to get this card under the old rate we share a few key pieces of information to help our readers decide which direction to go.
The current offer which expires tomorrow gives holders the following benefits:
- Earn 50,000 bonus points spending $4,000 on purchases in the first 3 months (which is worth roughly $750 toward travel)
- $300 Annual Travel Credit as reimbursement for travel purchases each anniversary
- 3X points on travel after earning the $300 travel credit.
- 3X points on dining and 1 point per $1 spent on all other purchases.
- $0 foreign transaction fees (always nice for international travelers!)
- 1:1 point transfer to most airline and hotel programs .
- Access to 1,000+ airport lounges worldwide after enrollment in Priority Pass™
- $100 application fee credit for Global Entry or TSA Pre✔
The annual fee for the current version of the card is $450.00 annually, which is a decent chunk of change, but when you factor in the $300 travel credit and all of the other rewards this card comes with it’s pretty great value overall.
Option 2: Wait, and get the new card with higher fee (but new benefits)
Here’s what we know about the new card (available 1/12/20):
- Annual fee increasing to $550 (from $450/yr)
- Cardholders will get a free DoorDash DashPass membership for one year and a $120 in DoorDash Credits over the next two years
- A year of Lyft Pink (Lyft Referral Link to Potentially Receive $5.00 off next ride)
- 10x Points on Lyft Rides (more details: non affiliate link to the Lyft Chase Partnership)
The higher fee isn’t great, and frankly the benefits are uninspiring. I don’t see the value. That said, this card will still remain a top notch card in most people’s books, fee increase or not.
What to do?
From reading other peoples takes on this, there’s some suggestion that if folks wait to sign up with the new card they might be able to take advantage of some yet unannounced sign up bonus. But that’s a gamble.
My take is this: sign up now to avoid paying the extra fee. Why pay the extra cash on the hope of a better off? Bird in the hand and all that….
Besides the # of times I am interested in using DoorDash is ZERO.
Best of luck out there readers and happy traveling. Here is a link to apply for the Chase Sapphire Reserve card.
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